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20130107
20130115
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? supposedly the constitution says there's supposed to be new elections in 30 days. he doesn't want that to happen. so are you going to see chaos in the streets, are you going to see protests from the position? -- the position in the next couple of weeks? why do we care? biggest reserves of oil in the western hemisphere, second largest in the world. take a shot of the wall. we have this graphic. i think this is really telling. so on the left, way on the left, the blue are the reserves of venezuela, the green is the production. go a few columns over to the united states. we have very little in the way of reserves compared to venezuela. our production is much, much higher. so the markets are betting, and if you look at the venezuelan stock market or venezuelan bonds of which are widely held in fixed income portfolios, the betting is that post chavez we get closer to the point where the country starts reinvesting in its oil facilities. >> and production -- >> then production would go up. we would have greater supplies. plus, more would come back to the united states because, remember,
washington being dysfunctional. if in two years the country wants to elect, you know, a completely democratic house that will agree with everything that the obama administration wants, then we'll do that and we'll electric more democratic senators, the democrats can control the house, the senate and the white house and we'll give the president a rubber stamp on everything and washington will be totally fixed and we'll live in this great, great european country. so maybe it will go that way. but if it doesn't go that way and it's not washington, it's the people that send these representatives to washington who disagree with -- there's a 50/50 people split in this country of people who love entitlements because they're people on the receiving end and there's people on the other side who is funding everything. i don't know. i don't know whether it's a broken washington or we're just at a crossroads in the way the republic is governed and we have to make a decision as a country which way we head. >> right. that's definitely a lot of the ltage. there's still a lot of assets on the other side of th
quarter news. and a lot of that is still -- whether it's concerns about the u.s. election, whether it's the effects of eurozone fear and the fact that businesses continued to claim uncertainty as a way of avoiding investment spending. >> is that argument off the table or is it still on the table? >> look, i think uncertainty is the favorite argument of business ceos where every about why they won't do whatever it is that they have no intention of doing, anyway. basically, we live in an environment where things are going to continue to change and businesses are going to feel money if they feel there's an end demand that justifies that. there's end demand in china, end demand globally and moderate end demand in the u.s. the reality is businesses have done relatively well for the last two or three years and will continue to. >> real quickly, herbalife later this week will be making a big presentation trying to defend itself from bill ackmann. your thoughts? >> look, i happen to feel that waging your short selling campaign on the air waves a way of dictating stock price, i am personally
that served in the clinton administration about after the election how the president was going to fill out his cabinet. and he said if you look at the pattern that this president has followed, it has tended to pick people close to him who he feels very comfortable with. the criticism of president obama from some is that he's insular and that he has a very close circle. the positive of that is that it's a pretty cohesive group and he deals with people that he's comfortable with. and jack lew is clearly one of those people. >> you know, john, i know when you read the "new york times" editorialal page you know what you're getting when you read "the wall street journal's" editorialal pages you know what you're getting. but the point is, anyone that is still holding out some hope for a clinton-type packet more to the center is just becoming clear, more and more clear that that is not what we're going to get. the president has ideas about where he wants to take the country and there's no reason, once you're re-elected, why he can't put his own people in that will further his goals. but you just read
the debt ceiling sequestration and the european elections without much trouble. that's going to be the big if in the next couple of weeks. >> what you're saying is the economy is churning along no matter what it's kind of hard to knock this thing down? >> but the politicians could really do it. that's the problem. that is the businessest risk. right now the risk s political not economic. i think you have a big correction coming down. >> david? >> how about the issue that europe hasn't really really recapitalized all of its banks yet as the united states has, and what, if any, risk and exposure do you think that represents, and impact on potential growth opportunity? >> no doubt still risk although they basically are trying to sort of create a lot of -- sweep a lot of bad banks under the rug right now. they are moving towards the one key thing a lot of investors want to see which is centralized europeanwide banking regulation. if they can achieve that, of course, everything in europe moves very, very slowly. it will be a positive and investors will take with them. >> tom last year's gold's
Search Results 0 to 4 of about 5